Mortgage banks saw the cost of originating loans decline in the fourth quarter, but those savings were mostly offset by factors weighing on loan profits.

Refinancings also continued to dominate the market.

The average profit that independent mortgage banks and their subsidiariesrecorded on loans originated in 4Q fell to $1,093 per loan, compared to $1,263 in the third quarter, the Mortgage Bankers Association said Thursday.

The MBA released its fourth-quarter 2011 "Mortgage Bankers Performance Report," concluding that 4Q results were essentially "mixed for mortgage bankers."

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Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular contributor to HousingWire magazine. Kerri joined HousingWire as a Reporter in early 2011 and since earned a law degree from Southern Methodist University. She previously worked at the Dallas Business Journal.

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